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☁️ "Making Data Deliver Net Zero"

Climate 21

Photo by Claudio Schwarz / Unsplash

Table of Contents

Host: Tom Raftery
Guest: Gavin Starks | CEO | Icebreaker One
Category: ☁️ Carbon Reduction

Podcast’s Essential Bites:

[7:40] “We've got this huge tsunami of data coming towards us […]. So today's the simplest it's going to be. So it's only going to get more complex from this point onwards. […] We heard at COP [that] $130 trillion worth of global assets now have to be aligned with the Paris Agreement. That's 40% of all assets. So the financial community now needs access to information that you might not have had before. Otherwise, we're going to make decisions that lead us in the direction of net zero, but don't necessarily hit net zero.”

[8:23] “To get the data flow […] and whether that data flow is the carbon intensity of a kilowatt hour across a system at a particular period, or whether it's the scope three emissions from part of someone's supply chain, the investment community really needs access to that information. But so do the engineers. We need to both direct the finance to net zero solutions and […] we need to give the engineers the opportunity and capability to vastly improve our efficiency. […] We've got to halve our carbon emissions in the next eight years.”

[12:23] “The process here that we take with Icebreaker One is to say, how can we bring together the legal components, the business units, the regulators, and so on and say if we construct this in a way that's very repeatable, we can connect people rather than collecting all data. And so the approach we're taking is, how can we get all of the organizations in a particular sector, as we did with banking, to agree that that's a really good way of doing something and then just say, rubber stamp that, here is how we're going to share smart meter data from wind turbines, across the whole network. Here are the terms conditions, here's where it's free, here's where you have to pay, here's the control points, so not everybody is allowed access, only certain people in the market are allowed access to certain levels of granularity of data. […] Open Energy is a program now that's been running for just over a year […] to develop Open Energy as an equivalent to open banking for the energy sector and it's all the heavy lifting you might imagine it.

[15:33] “We tend to […] rather than talking about real time data, we talk about relevant time data, what's decision relevant data. And then as we layer this together with other information, just looking at the scope of what is energy data - it includes the weather […]. So suddenly, you're into this very diverse, distributed, decentralized network of information that people need access to. And so the more we can improve that access and reduce the friction of that access from a bilateral contract, that might take three to six months to something that is three clicks and takes six seconds, means that we're going to enable whoever is in that ecosystem, whether it's the engineers or the finance folks, or people building analytical tools or developing AI, let's give them access faster, so that they can work out how to make us twice as efficient, have twice the amount of renewables, […] get twice the amount of funding moving.”

[18:12] “We need exponential change around net zero if we're going to have any hope of getting to a 50% reduction by 2030. And so we need to radically increase the ability for us to share actionable information and decision relevant information. The financial community can then use that to hold people to account in their investment thesis. So when people are creating, whether it's a procurement or an investment, or as a sovereign wealth fund, how are they going to mandate the delivery of net zero? Because it's not good enough just to say, you've got to invest in low carbon. That doesn't give me confidence that we're going to hit the target. And so that there needs to be awareness of us very acutely measuring the impact here. And all these things will ultimately flow into the equivalent of credit scoring for organizations.”

Rating: ⚡⚡⚡

🎙️ Full Episode: Apple | Spotify
🕰️ 40 min | 🗓️ 01/12/2022
✅ Time saved: 38 min